France-based pipe manufacturer Vallourec has announced its financial results for the third quarter and the first nine months this year.
In the third quarter this year, Vallourec’s sales revenue decreased by 21.7 percent year on year to €894 million, mainly driven by lower industry volumes following the closure of the European rolling mills, while it reported EBITDA of €168 million, compared to €222 million in the third quarter last year. In the first nine months this year, the company’s sales revenue totaled €2.96 billion, down by 22.9 percent year on year, while its EBITDA was €618 million, compared to €916 million in the same period last year due to lower average selling prices.
In the given period, the company’s sales volume fell by 16.8 percent year on year to 292,000 mt.
The company expects an EBITDA in the range of €800-850 million for the full year.